South African Finance Minister Enoch Godongwana said he sees no reason to resign following his U-turn on a proposed tax ...

National Treasury announced that government had backtracked on its plan to raise VAT by 0.5% next month but also warned that tough spending decisions lie ahead to fill a R75 billion budget gap.

Scrapping the VAT increase will slightly affect inflation, but government will have to find the money elsewhere to balance the budget.

Treasury has backtracked on its fiscal framework due to political backlash. The DA and EFF took to the Western Cape High Court earlier this week demanding the proposed VAT hike to be scrapped. The DA ...

Eskom has implemented Stage 2 loadshedding on short notice, but many said they expected it after the VAT increase was scrapped by the Finance Minister.

Personally, like the legion of cynics before me, I think it’s useful to think positively when people are generally thinking negatively, and the other way around. So in that spirit, and without wanting ...

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The party of South Africa's President Cyril Ramaphosa has reversed a controversial proposed value-added-tax (VAT) rise that ...

Finance Minister Enoch Godongwana will be joined by the South African Reserve Bank governor - Lesetja Kganyago.

The South African government has canceled a proposed tax increase that has threatened to collapse the unity government after ...

The South African rand was stable on Thursday after the finance ministry said it was withdrawing a contentious increase in ...

South Africa on Thursday scrapped plans to raise value-added tax after a political backlash that threatened the stability of ...